Line: Everything you need to know about the Ethereum Layer-2 Airdrop and Token network

Ethereum Layer-2 Network Linea aims to use its next line token as an incentive to attract the capital of the world to Ethereum.

Described by sponsors such as the layer 2 most aligned by Ethereum, Linea will offer native performance to ETH Stakers, as well as an ecosystem background composed of around 54 billion line tokens to attract users to their network.

The long -awaited tokens generation event (TGE) will arrive on September 10. Here is a look at everything you need to know about what the line is and who can claim it.

What is the Linea Token?

Distributed by the Swiss profit organization of the Linea Association, Linea is the native token of the Ethereum Layer-2 network of the same name. The network was developed by the Ethereum software development firm, consensys, and line is described as an “extension” of the established layer 1 network. (Discharge of Responsibility: Consensys is one of the 22 investors in an editorially independent Decipher).

Unlike other layer 2 network tokens, line will not act as the native gas token for the line network. Instead, Linea will use ETH as a gas token to pay transaction fees. Linea token also differs from other layer 2 network tokens, since it has no government power and is subject to a repurchase mechanism and burns.

In other words, using a part of the ETH income that wins the transaction rates, the network will buy line and then burn it, or eliminate it effectively from the circulating supply.

The Token will maintain a total supply of 72,009,990,000 line, or 10 times the initial circulating supply of Ethereum.

When is line falling?

The Linea Token generation event (TGE) will take place on September 10, at which time Airdrop’s eligible participants can begin the claim process.

Eligible matches will have up to 90 days to claim their line tokens. After that time, any unlawful line tokens will be added to the bottom of the ecosystem and subsequently distributed by the line consortium.

Who will get the Airdrop line?

The Linea Token will be distributed in three main cubes: the first users, the participants of the ecosystem and the consensus treasure.

10% of the first users

The first users of the line network that obtained points through the Voyage and Linea Campaigns arise are eligible to claim their respective part of about 10% of the line supply. To be eligible, campaign participants must have achieved at least 2,000 points in the travel campaign and 15,000 points in the increase campaign.

This criterion and the elimination of around 800,000 sybil walletsOr those who tried to play the system to win the Token, left around 750,000 eligible wallets to divide 9.3 billion line tokens.

Another 1% of the first users’ cube is reserved for strategic builders in the line ecosystem, but those tokens will be distributed directly and will not be claimed as part of the Airdrop.

A Airdrop eligibility verifier It was released by line on September 3.

75% PARTICIPANTS OF THE LINE ECOSYSTEM

Most of the line tokens, 75% of the total supply, will be granted to active participants within the line ecosystem and is distributed by a collective body of entities aligned by Ethereum called Line Consortium.

They are composed of companies such as Ethereum Treasury Sharplink Gaming, Labs, Eigen Labs and Consensys, the Consortium, the consortium has the mandate of distributing the background of the ecosystem to those who help boost the line of line and ethereum.

“They are the users, their builders, they are liquidity suppliers, they are institutions, they are creators … Anything or any person who helps Ethereum and Linea to succeed”, Chief of Linea Declan Fox told him Decipher In July.

The small portions of 75% have already been approved for distribution by the consortium, including 4% in TGE for liquidity suppliers during the line event. The distribution of another billion line tokens was approved as part of Line ignitionA liquidity starter event that extends until October 26.

15% of consensus treasure

The final 15% of the line supply is reserved for consensys, the development company that incubated layer 2. 15% of tokens reserved for the software company are blocked for five years.